Ríos Renovables Group has started the construction of two photovoltaic parks in Geria (Valladolid) and Alfaro (La Rioja) with a total capacity of 27 MW. These projects, which involve a joint investment of close to EUR24 million (US$27.23 million), have been financed via project finance by Triodos Bank, with legal advice from Ríos Renovables de Arpa Abogados.
The two parks, which correspond to the last renewable energy auction of the central government, will be completed by the end of May. The one of Geria, of a power of 16 MW, requires an investment of about 14 million euros. The works will begin on Monday, March 4 and end on May 30. In the 11 MW photovoltaic plant in Rioja (La Alfaro), Ríos Renovables Group will make an investment of around EUR10 million (US$11.34 million). These works, which began on February 21, will conclude at the end of April.
The two parks will avoid the emission to the environment of 17,836 tons of CO2 per year . In addition, the clean energy generated in these two projects is equivalent to the average consumption of 14,274 households.
Country updates
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